The Senate GOP's bill aimed at wiping away the Affordable Care Act is a reality.After a behind-closed-doors crafting process, Republican leaders on Thursday revealed a 142-page draft of their bill to reform health care.These are the key pieces from the "Better Care Reconciliation Act," which in large part resembles the bill passed by the House with some notable deviations.MedicaidThe Senate bill more gradually reduces federal funds provided for Medicaid expansion, cutting it to the pre-ACA funding levels by 2024. Overall, however, the cuts to Medicaid are deeper than those in the House bill. It also give governors more leeway, allowing them to choose between block grants and per-capita support for funds, as well as giving them the option to impose a work requirement for those who are not pregnant, disabled or elderly to receive Medicaid.Insurance marketsThe existing ACA markets will receive short-term stabilization funds to address coverage and access disruption, with $15 billion per year in 2018 and 2019 and $10 billion for each of the next two years. Federal assistance will continue through 2019 to decrease costs for low-income Americans.No more individual mandateThe ACA's contentious individual mandate would be eliminated under the GOP bill, ending the tax penalty levied on those who don't buy insurance. Other employer mandates would also be eliminated, as well as nearly all of Obamacare's taxes.Some things stay the sameAs in Obamacare, individuals with pre-existing conditions will still be able to get insurance, and children can stay on their parents' plans through age 26. In a deviation from the House bill, the Senate measure links its tax subsidies to income -- as the ACA does -- rather than age, though only those earning up to 350 percent of the poverty level would qualify instead of Obamacare's 400 percent threshold.Planned ParenthoodThe bill would defund longtime conservative foil Planned Parenthood for one year.

The Senate GOP's bill aimed at wiping away the Affordable Care Act is a reality.

After a behind-closed-doors crafting process, Republican leaders on Thursday revealed a 142-page draft of their bill to reform health care.

Related Content

These are the key pieces from the "Better Care Reconciliation Act," which in large part resembles the bill passed by the House with some notable deviations.

Medicaid

The Senate bill more gradually reduces federal funds provided for Medicaid expansion, cutting it to the pre-ACA funding levels by 2024. Overall, however, the cuts to Medicaid are deeper than those in the House bill.

It also give governors more leeway, allowing them to choose between block grants and per-capita support for funds, as well as giving them the option to impose a work requirement for those who are not pregnant, disabled or elderly to receive Medicaid.

Insurance markets

The existing ACA markets will receive short-term stabilization funds to address coverage and access disruption, with $15 billion per year in 2018 and 2019 and $10 billion for each of the next two years. Federal assistance will continue through 2019 to decrease costs for low-income Americans.

No more individual mandate

The ACA's contentious individual mandate would be eliminated under the GOP bill, ending the tax penalty levied on those who don't buy insurance. Other employer mandates would also be eliminated, as well as nearly all of Obamacare's taxes.

Some things stay the same

As in Obamacare, individuals with pre-existing conditions will still be able to get insurance, and children can stay on their parents' plans through age 26.

In a deviation from the House bill, the Senate measure links its tax subsidies to income -- as the ACA does -- rather than age, though only those earning up to 350 percent of the poverty level would qualify instead of Obamacare's 400 percent threshold.

Planned Parenthood

The bill would defund longtime conservative foil Planned Parenthood for one year.